Private sector in China would keep on growing and its proportion in the national exports is expected to reach 35 percent by 2010, said sources with All-China Federation of Industry and Commerce (ACFIC).

 

Last year, private businesses achieved about 20 percent of China's exports and it has a strong momentum of growth, show statistics with ACFIC.

 

According to the statistics with the Ministry of Commerce, China's total exports were US$762 billion in 2005, 57.3 percent of which are made by foreign companies in China.

 

The proportions of private businesses in exports of electronic and machinery products as well as hi-tech products are growing fast and will reach 50 percent and 20 percent respectively by 2010, said the federation.

 

Meanwhile, China's total investment abroad is expected to US$reach 60 billion in 2006-2010 period, more than half of which would come from the private sector, according to the federation.

 

(Xinhua News Agency November 10, 2006)